Titan Vs Timex

TIMEXVS

TITANPresented By

Shamoeel JShrinivasan R

Consumer Durable

A durable good or a hard good is a good which does not quickly wear out, or more specifically, it yields services or utility over time rather than being completely used up when used once. Most goods are therefore durable goods to a certain degree.

OBJECTIVES

MARKETING STRATEGIES BY DIFFERENT WATCH BRANDS IN INDIA.

TITAN OR TIMEX? WHOSE CAPTURING A GREATER MARKET SHARE.

INDIVIDUAL STRATEGIES. WHAT ARE THE CONSEQUENCES? RECOMMEMDATIONS FOR THE

COMPANY HAVING LOW MARKET SHARE.

The two competitive products are Fastrack - 720PL01from Titan and Timex Chronographs T27601 from Timex.

TITAN BE MORE

TITAN

FOUNDED IN: 1987 HEADQUARTERS: India AREA SERVED: 4 continent and 32 countries

India and other countries esp. Middle east, Asia Pacific and Africa

Has Customer base of over 80 million. INDUSTRY: Watches PRODUCTS: Watches, Jewellery, Eyewear &

Precision Engineering EMPLOYEES: 3,000 PARENT COMPANY: TATA

Values and Standards

Total customer orientationEmployee appreciationPerformance culture and teamwork Creativity and Innovation Passion for excellence       Corporate Citizenship

TITAN’S BUSINESSES

Watches

Jewellery

Precision Engineering

Prescription Eyewear

Strategies

Innovation Quality Creative Advertising

Aamir Effect ‘Catalogue’ Advertising

Retail Stores Cutting Edge Technology

BRAND AMBASSADOR

Retail Stores

Of titanALL INDIA

10000Dealers

2300Towns

World Of Titan177

Showrooms104

Towns

Service Centers616

Centers

314Towns

Market Capitalization (Rs. in Cr.)

218500

1018

3530

4400 5300

0

1000

2000

3000

4000

5000

2002-03

2003-04

2004-05

2005-06

2006-07

May-08

Market Cap.

Crossed

Billion $

MAJOR COMPETITORS

Domestic Level- HMT

Maxima-quartz

Casio

International level- Espirit

Swatch

Citizen

Seiko

Marketing Mix (4P’S)

PRODUCT

Edge RagaOctan ZoopWWF HeritageOrion NebulaSonata ExactaSpectra DashRegalia FastrackRoyale ClassiqueXylus Eye +Titan Bandhan watches

PLACE

World of Titan ShowroomsTime ZoneTraditional OutletsNon Traditional Outlets

PRICEPricing Objectives

1. Survival (i.e. Titan Exacta)

2. Market share (i.e. Titan Sonata)

3. Market skimming (i.e. Titan Nebula)

4. Product quality

• Pricing method

1. Product line pricing

2. Promotional pricing

• Application of pricing strategy

1. Lower segment

2. 1000 plus segment

PRICERaga Diva- Rs 4000-9500Zoop- Rs 5200- 6000Nebula- Rs 26000- 85000Octane- Rs 5250- 7000Orion- Rs 3200- 7500Fastrack- Rs 500-4500

PROMOTION

1. Advertising

2. Sales promotion

3. Public relation

• Titan brand ambassador:• Titan Brand: Aamir Khan • Sonata: Mahendra Singh Dhoni• Raga: Gul Panag, Rani Mukherjee Xylys: Rahul Bose Fastrack: John Abraham

Titan tagline: Be more

Fast track tagline: How many you have?

Public relation

•Gift concept

•Promotion On Occasions

Advertising media:• Television• Print• Internet

Sales promotion

•Sponsorship

•Seasonality

•Promotion through Contests

Features of Fastrack - 720PL01:

Brand: Titan fastrack Strap material: leather ABS: (plastic) case, date display Analog display with '2','4','10'

numerals 3 hour indexes with date calendar &

Water resistant upto 50 meters Stainless steel case material and

stainless steel or leather strap.

Market Share of Key Players

60%18%

12%

10%

Sales

Titan Timex

HMT others

JOINT VENTURE WITH TIMEX

TITAN HAD A 5 YEAR COLLABRATION WITH TIMEX.

BOTH THE COMPANY MERGED TO GRAB A BETTER MARKET SHARE.

AFTER ACHIEVING THEIR RESPECTIVE POSITIONS THEY DECIDED TO PART AWAY.

THEIR DEAL ENDED ON 23RD DECEMBER 1997.

TITAN IS NOW WORKING AT A HIGHER POISITION AFTER THE SPILT UP BUT ITS STILL SEEN THAT TIMEX WAS WORKING UNDER THE NAME OF TITAN.

timex Since 1854

TIMEX WORLD

In market since 150 years

Ranked No. 1 in U.S.A in 2001

Largest selling brand in U.S.A & Canada

Focus- Quartz based wrist watches in India.

Lowest cost watch manufacturer in the world.

SEGMENTATION

o YOUTH

o KIDS

o HIGH END

o FASHION

o SPORTS

TIMEX PRODUCTS

PRICE

Timex Chronographs T27601 Rs. 5,595

Timex Formals A047 Rs. 835

Timex Formals LX00 Rs.1485

Timex watch EJ04 Retro Range Rs.400 Timex Steel UT09

Rs.1345

PROMOTIONTimex -The Official Timekeeper India Open2006

Timex amongst Top 50 power brands in the US.

Timex introduces special offer this Valentines for Cupid Struck hearts

TIMEX Brand Ambassador Brett Lee unveils the "new look" TIMEX in 2009

Timex is the official licensors of the ICC cricket world cup in India in 2011.

PLACE

Traditional Outlets (only 6) THE TIME WALK Non Traditional Outlets

20 service centers in India

ERRORS

No differentiated marketing strategy for India

Name of the showroom

Features of Timex Chronographs (T23821):

Analog display with '2','4','10' numerals

3 hour indexes with date calendar

Stainless steel case material and stainless steel or leather strap

Water resistant upto 50 meters.

Comparison - Titan and Timex

Celebrity Price Advertisements Parent company Large product line R & D

RECCOMENDATIONS

PRODUCT Should make more designs trendy watches for the gen x

More variety for girls’ watches.

Should launch a different product line E.g.. Eye wear, bags, laptops.

Better CRM-increase in consumer affluence

Attractive packaging

PROMOTION Using Indian celebrities in the ads which focus on Indian context like festivals.

Funny or impressive punch line.

Special offers.

Colorful banners.

RECCOMENDATIONS

o PRICE

youth watches between Rs.500-1800

sports watch- Rs1200-6000

men’s and women’s collection- Rs800-6200

PLACE Increase the number of Exclusive outlets

Name the showroom under the name of TIMEX

THANK YOU